Rupee gains four paisas despite long holidays

KARACHI: The Pak Rupee gained 4 paisas against dollar on Wednesday despite opening of the currency market after long holidays including weekly holidays and day offs for Ashura e Muharram on September 9 and 10.

The rupee ended Rs156.31 to the dollar from Rs156.35 of last trading on September 06 in interbank foreign exchange market.

Currency experts said that the inflows had helped the rupee to gain value against the greenback. They said that the rupee was under pressure earlier in the day but inflows of export reciepts and workers remittances helped the rupee to revive values.

The foreign currency market initiated in the range of Rs156.40 and Rs156.50. The market recorded day high of Rs156.60 and low of Rs156.20 and closed at Rs156.31.

The exchange rate in open market however witnessed depreciation in local currency value. The buying and selling of the dollar was recorded at Rs156.20/Rs156.70 from September 06 closing of Rs156.00/Rs156.50 in cash ready market.

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